Wherever you are in your business, you’ll find yourself somewhere in the questions these 5 listeners ask.
- Harry looks to promote his app and make his website better.
- AJ wants to know what’s next: improving his sales process or improving his product?
- John needs clarity about which payment model to go with.
- Brooke has 2 ways to monetize her growing audience… which should she choose?
- Jeff wants to know how to estimate potential revenue for a business idea.
We have a great time answering these questions and getting to the heart of the matter. Enjoy!
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Show Notes
The Best Parts of Every Ernest Video Ever – YouTube —
Setting the Table: The Transforming Power of Hospitality in Business by Danny Meyer on Amazon.com
Body of Work: Finding the Thread That Ties Your Story Together by Pamela Slim on Amazon.com
Born Standing Up: A Comic’s Life by Steve Martin on Amazon.com
Know Your DJ | Electronic Dance Music + DJ Culture
Learn how to set goals that actually stick!
The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil' guide. Get the 10 Most Common Mistakes in Starting an Online Business here »
Here is my $0,000,000.02
John: Follow what Chase says at 29:50 – just try the monthly plan and see what happens. Here is my experience.
I signed up for Blog That Converts. I had the option to pay up from at a great discount, but instead choose the monthly option. That is 12 payments. Derek Halpern’s course runs for 4 weeks… at his expert page. Many of us take much longer for that info to really sink in. Although the course contents are light on volume (compared to Fizzle), it is deep in value. A few of his lessons alone are worth it (for me anyway).
My credit card was compromised. The bank canceled it and sent a new one out. I proactively reached out to the BTC support person to let her know the situation. I wanted to change my credit card info so I wasn’t discharged from the course. This was about 8 months in. I already used the course contents, but wanted to remain a member of the closed community. To me, that was the lasting value.
Perhaps you could add a similar benefit. A closed group in Facebook or LinkedIn would offload that ‘forum’ type infrastructure and allow your members to interact and share. Some folks will have problems with the course, if they reach out to others in a safe CLOSED environment, there is more value to your content. You control they keys. If they stop paying, they get the boot. Since your product is around VIP networking, then perhaps a group in LinkedIn has even MORE value than Derek’s closed Facebook group for BTC.
Broke: Follow what Chase told John at 29:50 – just try it and see what happens.
I don’t think this is an either or situation. Keep your 700+ members in the Facebook page. Convert it to a closed group (if not already), then use your website and mostly free content, offer a paid program where you wrap all the experience up into a convenience package, and offer the group as an added benefit.
If you pay $XX now or $X over X months, you get all this in an easy to ready, easy to flow ebook (or Gumroad for the audio, video upsale) and you get access to the Closed Facebook group of over 700 folks.
Cool! 700 other people are doing it? Why not me! You current members should feel even better that they got in at the ground floor for free. If you have helped them thus far, they will help you (as long as you don’t start charging them).
Jeff: Use Long Tail Pro. Since you know Patt’s content, then you may know his process at niche site duel. Use that tool to figure out what your key words are worth (or how they should be pivoted). If Click cost $X, Y% convert to lead, Z% percent of that buy at $XX price, then solve. If low values of Y, Z, and XX still are profitable, then go and execute.
Fabulous questions and answers. Really glad you guys started this podcast, so much value.
Oh my, the header graphic on this post is just one big nostalgia orgy (the Fizzle logo in the Cusack’s boom box….genius). I could easily spend the next 2 months of my life in the 80s film vortex.
Great podcast! About Brooke’s question since your audience is already in Facebook I would stick with Facebook. Ramit’s Brain Trust has a great facebook community that is a support to a paid membership and it is totally worth the value
Guys, I almost friggin’ spit my morning coffee on to my sofa this morning! Caleb’s deadpan delivery of “Is it Djibouti?”, followed by the next minute was so hilarious, I wish I could have said that I planned it that way. That was some comedy gold right there. On top of all that, the advice you guys gave me for the Know Your DJ site was priceless. Just hearing a fresh perspective was really eye-opening. You guys are all that and a bag of chips. I’m was tempted to put the following on a t-shirt… Keep it up and thanks a million again!
HA! So good. Thanks, Harry
The best silent D starting country I’ve ever done a country report on in High School. Love it.
Hahahaha HILARIOUS!!! (The off topic banter is soo great!)
Hahahaha HILARIOUS!!! (The off topic banter is soo great!)
To Brooke’s question; I would charge for the forum, but discount heavily at first to get things going. I would also give free membership to the most engaged Facebook Group users to seed the forums with some good users.